M/S FIDELITY BUSINESS SERVICES INDIA PVT LTD vs. ASSISTANT COMMISSIONER OF INCOME TAX

Bench: S.SUJATHA,VINEET KOTHARI

d) of the Income Tax Act, 1961 (hereinafter referred to as the ‘Act’ for short) in terms of Section 115-O of the Act on the pay-out by it for buy-back of its own shares from its foreign Holding Company, M/s. FIS Holding Muritian Ltd. incorporated in Mauritius. 7. The Appellant Assessee Company bought back its own shares

COMMISSIONER OF INCOME TAX vs. T AHOBALA RAO

The appeal is dismissed

Bench: B.MANOHAR,K.SREEDHAR RAO

disallowing the bad debts claimed and also disruption of the joint family and issued demand notice. Being aggrieved by the assessment order dated 30.06.2003, the assessee preferred an appeal before the CIT (Appeals)-4, Bangalore (hereinafter referred to as First Appellate Authority). The First Appellate Authority after considering the matter in detail confirmed the order passed by the Assessing Authority